The Sherwin-Williams Company (NYSE:SHW) Stake Trimmed by Peninsula Asset Management Inc.

Key Points

• Peninsula Asset Management Inc. reduced its stake in The Sherwin-Williams Company by 3.9%, now holding 19,920 shares worth approximately $6.96 million.
• Sherwin-Williams reported a quarterly EPS of $3.38, which missed analysts' expectations by $0.38, while revenue remained at $6.31 billion.
• The company declared a $0.79 quarterly dividend, equating to an annual yield of 0.95%, with the ex-dividend date set for August 15th.

Peninsula Asset Management Inc. decreased its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,920 shares of the specialty chemicals company's stock after selling 800 shares during the quarter. Sherwin-Williams accounts for about 3.9% of Peninsula Asset Management Inc.'s holdings, making the stock its 8th biggest holding. Peninsula Asset Management Inc.'s holdings in Sherwin-Williams were worth $6,956,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SHW. GAMMA Investing LLC lifted its position in shares of Sherwin-Williams by 41,717.1% during the 1st quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company's stock worth $571,381,000 after buying an additional 1,632,391 shares during the last quarter. Capital Research Global Investors increased its stake in Sherwin-Williams by 47.1% in the 4th quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company's stock valued at $1,019,329,000 after buying an additional 960,724 shares during the period. Barclays PLC grew its stake in shares of Sherwin-Williams by 54.2% during the 4th quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company's stock worth $704,855,000 after purchasing an additional 728,798 shares during the period. Northern Trust Corp grew its stake in shares of Sherwin-Williams by 28.0% during the 4th quarter. Northern Trust Corp now owns 2,725,827 shares of the specialty chemicals company's stock worth $926,590,000 after purchasing an additional 595,586 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Sherwin-Williams in the 4th quarter worth about $103,359,000. Hedge funds and other institutional investors own 77.67% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SHW shares. Citigroup reduced their target price on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. BMO Capital Markets cut their price target on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. cut their price target on shares of Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Loop Capital lowered their price objective on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada raised their price target on shares of Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $383.33.

Sherwin-Williams Stock Performance

SHW stock traded up $13.16 during mid-day trading on Friday, reaching $344.04. The company had a trading volume of 4,073,916 shares, compared to its average volume of 1,712,322. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $85.78 billion, a P/E ratio of 34.13, a P/E/G ratio of 3.13 and a beta of 1.16. The Sherwin-Williams Company has a one year low of $308.84 and a one year high of $400.42. The stock's 50-day simple moving average is $346.15 and its two-hundred day simple moving average is $348.09.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter in the prior year, the firm earned $3.70 earnings per share. Sherwin-Williams's revenue for the quarter was up .6% compared to the same quarter last year. Research analysts anticipate that The Sherwin-Williams Company will post 12 EPS for the current year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Sherwin-Williams's payout ratio is presently 31.35%.

About Sherwin-Williams

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.